"According to a press release released Monday, the US Federal Reserve spread the news that all Fed banks will implement the ISO 20022 system for the Fedwire Fund Service (FFS).
Interestingly, Ripple's blockchain-based payments already comply with the ISO 20022 standard.
This new messaging format allows you to improve real-time payments both at home and across borders. It will also enable banks and other institutions to implement anti-money-laundering measures.
In addition, the Fed Board of Directors asks the public to comment on its plan to allow the FFS to start operating on ISO 20.022. The board also suggests that banks not take three steps to adopt the new message format, but adopt it in one day.“
The funny thing is that Ripple is the only Crypto approved by ISO 20.022.
Alejandro O. Asharabed Trucido
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